Phoenix Realty Buys Three Complexes for $32M

LOS ANGELES-The investment firm acquires three apartment properties totaling 424 units, returning to the market for its first significant investment since 2006.

By Bob Howard|July 22, 2010 at 05:02 PM

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LOS ANGELES-Phoenix Realty Group has acquired three apartment complexes totaling 424 units for $31.5 million, marking the work force housing specialist’s first significant investment in Southern California since 2006, Phoenix senior vice president Alex Saunders tells GlobeSt.com. Saunders says the company, which is on the lookout for other multifamily acquisitions, views this as a good time to buy in light of low rent levels and other market conditions that are conducive to investing.

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